Gold prices in Pakistan experienced a dramatic decline on Tuesday, mirroring a steep drop in the global bullion market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola plunged by Rs. 14,000, settling at Rs. 416,362. The rate for 10 grams of gold also fell significantly, dropping by Rs. 12,003 to Rs. 356,963.
Just a day earlier, domestic gold prices had already declined by Rs. 3,300 per tola, signaling continued volatility in the precious metals market. The latest fall comes as global gold prices recorded a sharp correction, with international rates standing at $3,940 per ounce (including a $20 premium), down by $140 from the previous day.
Analysts attribute the slump to fluctuations in global demand, a stronger U.S. dollar, and shifting investor sentiment toward equities and other assets. Meanwhile, silver prices in Pakistan also followed the downward trend, decreasing by Rs. 173 to settle at Rs. 4,924 per tola.
Market experts suggest that uncertainty in global economic trends and expectations of central bank policy shifts are likely to keep precious metal prices unstable in the coming days.
